Should You Consider Adding Danaher Corp. (DHR) to Your Portfolio?

Weitz Investment Management, an investment management firm, released its “Large Cap Equity Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund’s Institutional Class returned +12.32% compared to an +8.58% return for the Russell 1000 Index. The Fund’s Institutional Class has returned +19.11% year-to-date compared to +16.68% return for the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Weitz Large Cap Equity Fund highlighted stocks like Danaher Corporation (NYSE:DHR) in the second quarter 2023 investor letter. Headquartered in Washington, the District of Columbia, Danaher Corporation (NYSE:DHR) designs, manufactures, and markets professional, medical, industrial, and commercial products and services. On August 8, 2023, Danaher Corporation (NYSE:DHR) stock closed at $259.07 per share. One-month return of Danaher Corporation (NYSE:DHR) was 8.80%, and its shares lost 11.02% of their value over the last 52 weeks. Danaher Corporation (NYSE:DHR) has a market capitalization of $191.285 billion.

Weitz Large Cap Equity Fund made the following comment about Danaher Corporation (NYSE:DHR) in its second quarter 2023 investor letter:

“Quarterly detractors were modest, both in number and impact. Thermo Fisher Scientific, Inc. (TMO) and Danaher Corporation (NYSE:DHR) experienced single-digit percentage stock price declines for the quarter and year-to-date periods. Short-term concerns revolved around bioprocessing inventory destocking and the funding environment for early-stage biotech customers. While our 2023 forecasts have softened, we believe these issues have no impact on the favorable growth or cash flow outlooks for life sciences over the next decade. We added modestly to both positions.”

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Danaher Corporation (NYSE:DHR) is in 29th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 90 hedge fund portfolios held Danaher Corporation (NYSE:DHR) at the end of first quarter which was 88 in the previous quarter.

We discussed Danaher Corporation (NYSE:DHR) in another article and shared the list of stocks receiving price-target cut from analysts. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.